Hair Extensions Market Growth, Share Analysis And Trends 2024 To 2033

The hair extensions market size has grown strongly in recent years. It will grow from $3.62 billion in 2023 to $3.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to fashion and beauty trends, celebrity endorsements and influence, cultural diversity and style preferences, weddings and special events, cosplay and creative expression..

The hair extensions market size is expected to see strong growth in the next few years. It will grow to $5.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising beauty and grooming awareness, influence of social media and influencers, innovation in hair extension styles, increased acceptance in professional settings, growing wedding and event industry.. Major trends in the forecast period include focus on seamless and undetectable installations, emphasis on education and training programs, diversity and inclusivity in product offerings, integration of virtual try-on technologies, e-commerce dominance and direct-to-consumer sales..

Market Overview -
Hair extensions refer to artificial hair made from genuine or synthetic hair sewn into one's natural hair to add length and volume. They often cover thinning or balding hair and add color, which can alter its look for long or short periods.

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Rising Hair-Related Issues Fuel Growth In The Hair Extensions Market
The increasing prevalence of hair-related issues is expected to propel the growth of the hair extensions market going forward. Hair-related problems refer to various conditions that affect hair's health, appearance, and development. It includes hair loss, stress-related shedding, scalp conditions, oiliness, split ends, breakage, hair thinning, and chemical treatments like dye allergies or heat exposure damage. Hair extensions provide a rapid and varied option to attain desired hair aesthetics, catering to fashion accessories and personal demands. For instance, in July 2023, according to a study produced by Medihair GmbH, a Germany-based enterprise for hair loss treatments, over 85% of men and 33% of women experience hair loss, with approximately 35 million men and 21 million women experiencing hair loss globally in 2023. Furthermore, in February 2021, according to the National Health Service (NHS), a UK-based health institution, it is anticipated that roughly 40% of women aged 70 years or older develop female-pattern baldness, and 8 million women in the UK experience hair loss by the age of 50. Therefore, the increasing prevalence of hair-related issues will drive the hair extensions market.

Competitive Landscape -
Major companies operating in the hair extensions market report are Beauty Industry Group Inc., Evergreen Products Group Limited, Shake-N-Go Inc., BELLAMI Hair LLC, Balmain Hair Couture, Donna Bella Inc., Hairdreams Haarhandels GmbH, Mayvenn Hair, Perfect Locks LLC, Racoon International, SalonLabs Exports India Pvt Limited, Jon Renau, Locks & Bonds, Easihair pro USA, SO. CAP. USA, Hairlocs International Inc., Femme Hair Extensions, Klix Hair Extension, Cinderella Hair Extensions, Hairlux, The Gorgeous Hair, Great Lengths S.p.A Societa Benefit, Viva Femina Inc., Frika Hair Pty Ltd., Hidden Crown Hair Extension, SalonLabs Exports India Pvt Limited

Innovative Ai-Enabled Applications Transform The Hair Extension Market
Major companies operating in the hair extension market are focused on innovating advanced solutions, such as AI-enabled applications, to drive revenues in the market. AI-enabled applications use artificial intelligence (AI) to help users try on different hairstyles, match hair extensions to their natural hair color, and more. For instance, in October 2022, Hair Originals, an India-based manufacturer of hair extensions and products, launched Magic Mirror, an AI-enabled application aimed at end-users, salons, and stylists. The application, accessible for iOS and Android users, is intended to foster a community centered on hair extension goods and services. The app's goal is to provide value to its users by offering material on how to utilize hair extension products, promoting awareness of the procedure, and assisting potential clients with suggestions and tools to identify certified stylists. In turn, on-boarded professionals will have access to a platform to promote their work and network with salons, prospective consumers, and other hair stylists.

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Key Segments -

The hair extensions market covered in this report is segmented -

1) By Type: Synthetic Hair Extensions, Human Hair Extensions, Animal Hair Extensions
2) By Fitting Type: Clip-In, Micro Link, Tape-In, Glue-In
3) By Distribution Channel: Retail Stores, Supermarkets, E-Commerce
4) By End-User: Professional, Personal

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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